PG&E Corp. won court approval for a $13.5 billion settlement with victims of fires linked to its equipment but the utility said it expects talks to continue with California Gov. Gavin Newsom, who last week said its bankruptcy-exit plan falls short of needed reforms.

The pact with fire victims is the third and largest in a series of settlements aimed at putting a lid on damage claims from a series of blazes in recent years that left people dead, destroyed homes and businesses and plunged PG&E into bankruptcy in January.

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